Ashtead raised pay without laying off a single employee
The Ashtead Group retained all of its approximately 19,000 employees during the height of the COVID-19 (coronavirus) pandemic. In fact, it provided “paid time off for COVID-19 related reasons, discretionary bonuses and a 2% pay rise for skilled trade team members”. In June 2021, the company increased pay for North American skilled team members by approximately 6%. Also in 2021, Ashtead Group increased operating income by 0.08% to $1.97 billion in 2021. Showing loyalty to the work force while maintaining strong financial performances sets Ashtead apart and makes for improves public relations.
COVID|LaborIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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